Thailand has sufficient budget to tackle pandemic’s economic effects: official

The Thai Government has sufficient budget to tackle the economic effects of the second wave of COVID-19, Director of the country’s Budget Bureau (BB) Dechapiwat Na Songkhla said on January 5.
Thailand has sufficient budget to tackle pandemic’s economic effects: official ảnh 1People wearing face masks to avoid COVID-19 infection at a shopping mall in Bangkok, Thailand (Photo: AFP/VNA)

Bangkok (VNA) – The Thai Government has sufficient budget to tackle theeconomic effects of the second wave of COVID-19, Director of the country’s BudgetBureau (BB) Dechapiwat Na Songkhla said on January 5.

TheBB chief said the Government still has more than 600 billion THB from thecentral budget for the fiscal year 2021 and the 1-trillion-THB loan decreelaunched in 2019.

PatriciaMongkhonvanit, Director-General of the Public Debt Management Office, said theGovernment still has 400 billion THB left from the 1-trillion-THB loan bill totake care of the economy in the midst of the resurgence of virus infections.

Underthe 1-trillion-THB borrowing plan, it also took out 370 billion THB with 348billion THB earmarked for economic and social rehabilitation.

Latestdata showed that more than 100,000 employees have lost their jobs or beensuspended from work as a result of the closure of more than 6,000 businesses in28 red-zone provinces in the wake of the new outbreak.

LabourMinister Suchart Chomklin said insured workers left unemployed due to thepandemic could begin applying for compensation payments from January 4.

Meanwhile,the Bank of Thailand and the Thai Bankers Association are set to meet todiscuss measures to help businesses affected by the resurgence of COVID-19infections.

Asource with the financial market said the two agencies initially agreed onthree pillars, “Restructuring, Reviving and Reform”, to maintain financialstability of financial institutions.

TheJoint Standing Committee on Commerce, Industry and Banking (JSCCIB) also plansto reassess Thailand's economic outlook in 2021 as stronger state measuresagainst the new outbreak have begun to affect employment in at-risk provinces.

Asurge in daily infections since late 2020, with a record of 745 new coronaviruscases on January 4, has meant several business sectors, particularlyrestaurants, are suffering.

Thesituation prompted the JSCCIB to reconsider the pandemic’s impact on theeconomy, according to Chairman of the Federation of Thai Industries SupantMongkolsuthree./.
VNA

See more

The DITP predicts the Chinese market for dried and preserved fruits will reach 335.3 billion CNY (46 billion USD) by 2028. (Photo: The Nation)

Thailand leads dried fruit exports to China

The DITP predicts the Chinese market for dried and preserved fruits will reach 335.3 billion CNY (46 billion USD) by 2028 and is urging Thai businesses to capitalise by developing innovative, high-quality products.

Singaporean Minister for National Development Desmond Lee (Photo: straitstimes.com)

Singapore makes efforts to upgrade social housing

Singaporean Minister of National Development Desmond Lee said on February 17 that 29,000 flats built in 1997 or earlier have been chosen for the Housing Board’s Home Improvement Programme (HIP) and will get structural improvements and upgrades to bathrooms and entrances, among other things.

Indonesia's Ministry of Marine Affairs and Fisheries is encouraging the utilization of marine biopharmaceuticals. (Photo: Antara)

Indonesia promotes Marine Biopharma in healthcare

The ministry's Director General of Marine and Ocean Space Management Victor Gustaaf Manoppo stated that this initiative aims to enhance national pharmaceutical resilience while empowering coastal communities involved in the supply chain of natural medicinal ingredients.

Myanmar cracks down on online scam centres

Myanmar cracks down on online scam centres

An estimated 220,000 people were estimated to have been tricked into working for romance-investment schemes, crypto fraud, money laundering and illegal gambling in Myanmar and Cambodia in 2023.

People get vaccinated against influenza in Thailand. (Photo: Xinhua/VNA)

Thailand sees surge in influenza cases

Thai Public Health Minister Somsak Thepsutin said there has been a big jump in infections in February, calling on people showing symptoms that could be flu to stay home, to prevent spreading the virus.

Thai PM Paetongtarn says AI technology needs to be adopted and regulated to help drive the Thai economy. (Photo: bangkokpost.com)

Thailand touts draft AI regulation

AI is expected to become a key tool in driving businesses and developing industries in Thailand, said Prime Minister Paetongtarn Shinawatra.

At the Korea-Malaysia Trade Ministers' Meeting in 2023 (Photo: Koreaherald.com)

Malaysia, RoK resume FTA talks

The latest round of talks will take place in Kuala Lumpur from February 17 to 20, with discussions covering 11 key sectors, including goods, services, investment, and economic cooperation.